Technology partners

MIND Technology Partners with RTSYS for Real-Time Implementation of Spectral AI™ ATR on the COMET-300 Autonomous Underwater Vehicle

THE FORESTS, Texas, October 17, 2022 /PRNewswire/ — MIND Technology, Inc. (“MIND” or the “Company”) (Nasdaq: MIND) today announced that it will demonstrate an implementation of its real-time Automatic Target Recognition (ATR) Spectral AI on the RTSYS COMET- 300 Autonomous Underwater Vehicles (AUV) at the EURONAVAL conference in Paris.

The ATR Spectral AI was developed for real-time, post-mission processing of Klein side-scan sonar data to automatically detect and classify different types of underwater man-made objects.

Rob CapsPresident and CEO of MIND, said, “We are delighted to partner with RTSYS to demonstrate the potential of this technology when deployed on an AUV such as the COMET-300. We believe that applying AI in this way can be a disruptive technology in many different missions.”

Pierre-Alexandre CauxCommercial Director of RTSYS, added: “This close relationship will also bring significant added value to RTSYS customers looking to upgrade their vehicles with the latest technologies available. There is no doubt that the combination of the quality of Klein side scan sonar and the versatility of RTSYS AUVs will benefit end users in the defense and civilian sectors. »

About MIND Technology
MIND Technology, Inc. provides technology to the oceanography, hydrography, defence, seismic and security industries. Based at The Woods, TexasMIND has a global presence with key operating sites in United States, Singapore, Malaysia, and the United Kingdom. Its Seamap and Klein units design, manufacture and sell specialized and high-performance marine sonar and seismic equipment.

About RTSYS
RTSYS continuously improves the field of underwater acoustics through unique technological innovations and constant investment in research and development. This high level of expertise is recognized in the innovation sectors of Passive Acoustic Monitoring (PAM), Underwater Exploration with Autonomous Underwater Vehicles (AUV), Mine Countermeasures (MCM) and anti-submarine warfare (ASW). www.rtsys.eu

Forward-looking statements
Certain statements and information contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical facts, including statements regarding our future results of operations and financial condition, strategy and plans our objectives for future operations, future orders and expected delivery of existing orders, and future dividend payments are forward-looking statements. The words to believe,” “expect,” “to anticipate,” “to plan,” “intention,” “should,” “would have,” “could or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs regarding future developments and their potential effect on us. Although management believes these forward-looking statements are reasonable as made, there can be no assurance that future developments affecting us will be those we anticipate. All comments regarding our expectations for future revenues and operating results are based on our forecasts of our existing businesses and do not include the potential impact of any future acquisitions or divestitures. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our current expectations or projections. These risks and uncertainties include, but are not limited to, reductions by our customers capital budgets, our own capital budget, limitations in the availability of capital or higher costs of capital, volatility in commodity prices for oil and natural gas and the extent of disruption caused by the COVID-19 epidemic.

For additional information about known important factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and our current reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date on which they are made, except as required by law, whether as a result of new information, future events or otherwise. . All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein.

contacts:

Rob Caps, President and CEO

MIND Technology, Inc.

281-353-4475

Ken Dennard / Zach Vaughan

Dennard Lascar Investor Relations

713-529-6600

[email protected]

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SOURCE MIND Technology, Inc.